General Article Archives - Page 12
ACCTFAX Winter 2021
Originally published in The Cooperative Accountant, Winter 2021 Issue FASB PROPOSES IMPROVEMENTS TO FAIR VALUE GUIDANCE FOR EQUITY SECURITIES On September 15, 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would improve financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting ...
Read MoreWinter 2021 TCA Small Business Forum
Originally published in The Cooperative Accountant, Winter 2021 Issue Violations Enforced by Governmental Agencies Introduction To inhibit damaging practices and to encourage compliance, a plethora of government agencies enforce the compliance of regulations. Agencies like the Environmental Protection Agency (EPA) provide efficiencies to the market and peace of mind to consumers ...
Read More5 Steps to Prevent Fraud
While no one wants to believe fraud is occurring at their organization or nonprofit, unfortunately, it can and does happen. Typically, fraud is a crime of opportunity, which means that putting preventative fraud measures in place can help you reduce fraud before it starts. Here are five steps you can put in place no matter what size your organization is to decrease your risk of fraud. Remember, when you have formal reporting mechanisms in ...
Read MoreHow to Survive a Ransomware Attack
The biggest question that arises in the wake of a ransomware attack is whether to pay the ransom, and the answer is by no means easy. What should a company do when cyber criminals attack its systems and demand a ransom? Unfortunately, the increase in ransomware incidents forces a growing number of businesses to answer that question. How organizations handle the minutes, hours, and days following a ransomware attack ...
Read MoreFall 2021 ACCTFAX
Originally published in The Cooperative Accountant, Fall 2021 Issue FASB ISSUES STANDARD TO IMPROVE A LESSOR’S ACCOUNTING FOR CERTAIN LEASES WITH VARIABLE LEASE PAYMENTS On July 19, 2021, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments. During the ...
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